Callaway Golf Company (MODG)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 4,100,200 | 3,879,900 | 3,049,960 | 1,551,060 | 1,655,710 |
| Total assets | US$ in thousands | 9,120,600 | 8,590,400 | 7,747,800 | 1,980,600 | 1,960,550 |
| Total asset turnover | 0.45 | 0.45 | 0.39 | 0.78 | 0.84 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $4,100,200K ÷ $9,120,600K
= 0.45
The total asset turnover ratio for Topgolf Callaway Brands Corp has shown varying trends over the past five years, ranging from 0.40 to 0.87. The ratio indicates how efficiently the company is generating revenue from its assets. In 2023 and 2022, the total asset turnover remained constant at 0.47, suggesting that the company's ability to generate sales from its assets did not improve during these years.
However, in 2021, the total asset turnover ratio decreased to 0.40, reflecting a decline in the efficiency of using its assets to generate revenue. This could be attributed to various factors such as decreased sales relative to total assets or an increase in total assets without a proportional increase in sales.
Conversely, the total asset turnover significantly improved in 2020 to 0.80 and further to 0.87 in 2019, indicating a more efficient utilization of assets to generate sales during those years. This positive trend suggests that the company was able to generate a higher level of revenue relative to its total assets, reflecting improved asset management and operational efficiency.
Overall, the total asset turnover ratio for Topgolf Callaway Brands Corp has displayed fluctuations over the years, with periods of both improvement and decline. Further analysis and comparison with industry benchmarks could provide additional insights into the company's asset utilization and operational performance.
Peer comparison
Dec 31, 2023